Housebuilder Countryside Properties saw its annual profits almost triple as average selling prices jumped over 20 per cent, with an initial post-Brexit wobble short-lived.

Countryside's annual pretax profits rose to £78.6million, up from £28million a year earlier, as completions rose by 12 per cent to 2,657 homes and average selling prices jumped by 21 per cent to £465,000, with revenues up 23 per cent to £671.3 million.

The group, which has its headquarters in Essex, said current trading remains 'robust', adding that 'the markets in which we operate have recovered post the EU referendum and we continue to trade well'.

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The housebuilder said its mid-priced properties sold well, while the £1million or more market proved more challenging.

Countryside Properties' private forward order book at the end of its financial year was up 64 per cent year-on-year to £225.4 million.

The group said it continued to open new sites during the year, with 43 open outlets at year-end and a further 29 sites under construction.

Chief executive Ian Sutcliffe, said: 'We see significant growth opportunities in Partnerships with increased estate regeneration in London and our geographic expansion into the West Midlands, while our increased scale and operational efficiency in Housebuilding will continue to improve returns.'